Why Trevena (TRVN) Stock Is Down 43% Today

Trevena Inc TRVN shares are trading lower by 43.3% to $2.61 during Monday’s session after the company announced it received a Nasdaq delisting notification.

What Else: Trevena late Friday announced that its common stock will be delisted from the Nasdaq Stock Market following a ruling by the Nasdaq Hearings Panel.

The delisting decision, effective October 8, stems from Trevena's failure to meet Nasdaq’s minimum stockholder equity requirement. The company had until October 2, to regain compliance but was unsuccessful.

Following the delisting, Trevena's stock is expected to trade on the Pink Open Market (OTC). However, the company noted that there is no guarantee that brokers will continue to facilitate trading in the company’s stock.

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According to data from Benzinga Pro, TRVN has a 52-week high of $19.23 and a 52-week low of $2.41.